Saint Vincent and the Grenadines - Economy
How is the economy of Saint Vincent and the Grenadines? Based on the information we have, Saint Vincent and the Grenadines has a upper middle-income Caribbean island economy; key agriculture and tourism sectors; environmentally fragile; diversifying economy across services, science and knowledge, and creative industries; CARICOM member and US Caribbean Basin Initiative beneficiary. Key agricultural products in this country include: bananas, root vegetables, plantains, vegetables, fruits, coconuts, mangoes/guavas, yams, spices, sweet potatoes (2022).
More about the economy of Saint Vincent and the Grenadines
Labor force 53,000 (2022 est.)
Industrial production growth rate 11.87% (2022 est.)
Industries tourism; food processing, cement, furniture, clothing, starch
Population below poverty line
Taxes and other revenues 23.8% (of GDP) (2017 est.)
Fiscal year
Exchange rates
Currency East Caribbean dollars (XCD) per US dollar -
Exchange rates 2022 2.7 (2022 est.)
Exchange rates 2021 2.7 (2021 est.)
Exchange rates 2020 2.7 (2020 est.)
Exchange rates 2019 2.7 (2019 est.)
Exchange rates 2018 2.7 (2018 est.)
Debt - external
Debt - external 31 December 2017 $362.2 million (31 December 2017 est.)
Debt - external 31 December 2016 $330.8 million (31 December 2016 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2022 $320.193 million (2022 est.)
Reserves of foreign exchange and gold 2021 $311.903 million (2021 est.)
Reserves of foreign exchange and gold 2020 $205.195 million (2020 est.)
Current account balance
Current account balance 2022 -$184.796 million (2022 est.)
Current account balance 2021 -$197.723 million (2021 est.)
Current account balance 2020 -$136.29 million (2020 est.)
Public debt
Public debt 2017 73.8% of GDP (2017 est.)
Public debt 2016 82.8% of GDP (2016 est.)
Budget
Revenues $243 million (2020 est.)
Expenditures $288 million (2020 est.)
Budget surplus (+) or deficit (-) -0.6% (of GDP) (2017 est.)
Remittances
Remittances 2022 7.33% of GDP (2022 est.)
Remittances 2021 8.03% of GDP (2021 est.)
Remittances 2020 7.25% of GDP (2020 est.)
Imports
Imports 2022 $508.404 million (2022 est.)
Imports 2021 $425.4 million (2021 est.)
Imports 2020 $375.036 million (2020 est.)
Imports (partners) US 40%, Trinidad and Tobago 10%, China 6%, UK 6%, Turkey 5% (2022)
Comodities Imports force refined petroleum, poultry, ships, raw sugar, plastic products (2022)
Exports
Imports 2022 $508.404 million (2022 est.)
Imports 2021 $425.4 million (2021 est.)
Imports 2020 $375.036 million (2020 est.)
Exports (partners) Malaysia 34%, US 10%, Greece 9%, Barbados 8%, Spain 6% (2022)
Comodities Exports force refined petroleum, ships, fish, shellfish, wheat (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022 $1.515 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $1.444 billion (2021 est.)
Real GDP (purchasing power parity) 2020 $1.433 billion (2020 est.)
GDP (official exchange rate) $948.559 million (2022 est.)
Real GDP Per capita
Real GDP per capita 2022 $14,600 (2022 est.)
Real GDP per capita 2021 $13,800 (2021 est.)
Real GDP per capita 2020 $13,700 (2020 est.)
GDP - composition, by sector of origin
Agriculture 7.1% (2017 est.)
Industry 17.4% (2017 est.)
Services 75.5% (2017 est.)
GDP - composition, by end use
Household consumption 87.3% (2017 est.)
Government consumption 16.6% (2017 est.)
Investment in fixed capital 10.8% (2017 est.)
Investment in inventories -0.2% (2017 est.)
Exports of goods and services 37.1% (2017 est.)
Imports of goods and services -51.7% (2017 est.)
Unemployment rate
Unemployment rate 2022 19.55% (2022 est.)
Unemployment rate 2021 20.46% (2021 est.)
Unemployment rate 2020 20.68% (2020 est.)
Youth unemployment rate (ages 15-24)
Total 41.1% (2021 est.)
Male 39.7%
Female 43.9%
All Important Facts about Saint Vincent and the Grenadines

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Saint Vincent and the Grenadines is found in Caribbean